Example $39$ On December $31,20$x$3,$ the stockholder's equity section of Clark, Inc. was as follows: On March $31,20$X$4,$ Clark declared a $10\backslash \%$ stock dividend, and accordingly additional shares were issued, when the fair market value of the stock was $\backslash (\backslash$$ $27\backslash )$ per share. For the three months ended March $31,20$X$4,$ Clark sustained a net loss of $\backslash (\backslash$$ $96,000\backslash ).$ Calculate the balance of Clark's retained earnings as of March $31,20$X$4.$